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Factoring Company in Cleveland, OH

The Cleveland Factoring Company that Grows Your Medical Business

If you own a medical or healthcare company in Ohio and have slow paying customers that are negatively impacting your cash flow, you need a funding solution. It can be frustrating if you’re trying to pay your employees or cover other expenses but you’re waiting for your customer to pay you in 30 to 6o days.

Invoice factoring, also known as accounts receivable factoring, is a flexible financing option for your business that can close the gap between slow paying customers. Unlike a traditional bank loan, factoring is easy to qualify for because it depends on the creditworthiness of your customers, not you personally. PRN Funding, a factoring company in Cleveland, can get you the funding so you can continue growing your medical business.

How Does Factoring Work?

Working with a Cleveland-based factoring company, like PRN Funding, is a beneficial and simple financing option for your medical business. Accounts receivable factoring provides cash to your business immediately. The process goes as follows:

  1. Step One: You will serve your customers like usual, depending on what type of medical healthcare company you own.
  2. Step Two: Submit your invoices to PRN Funding that you wish to factor.
  3. Step Three: PRN will verify the invoice and notify your customer to send their payment to them.
  4. Step Four: You will be advanced a portion of the invoice, typically between 80-90 percent, and the rest will be held in the reserve.
  5. Step Five: Your customers will pay PRN Funding (the factoring company) and the rest of the reserve will be released, minus a small fee for the factoring services provided.
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How Can Factoring with a Cleveland Company Help my Business

There are many benefits to medical healthcare factoring, which is why it’s a popular form of funding in this particular industry. If you’re in the early stages of starting your business or you’re experiencing a period of growth, cash flow problems can occur. Accounts receivable factoring helps with these situations. Cleveland factoring companies, such as PRN Funding, step in to provide a healthy cash flow solution for your business.

Factoring is a business financing solution that can be used by small to mid-sized healthcare businesses.

  • Fast, immediate funds – Once you’re approved, you can get funds within 24 hours.
  • Improve your credit – You’ll have the cash to meet your payments on time.
  • Flexibility – There is not a fixed-term contract and you have the ability to factor whichever invoices you wish.

Contact PRN Funding to get Started

If your healthcare business could benefit from additional cash flow, we can help.

What Types of Businesses Work with Cleveland Factoring Companies

PRN Funding has years of experience funding medical staffing agencies of all types. With immediate funds and no contract required, learn more about how medical staffing factoring can help your Cleveland agency.

If meeting payroll for your nurse staffing agency is difficult because of slow paying clients, learn more about the benefits of nurse staffing factoring and you won’t have the stress of funding payroll anymore.

If you’re billing Medicare, Medicaid or a third-party insurer, you know the struggle of lengthy payment terms. This can make it difficult for home health care providers to cover payroll and other operating expenses. Learn more about how home health care factoring with PRN Funding is a solution to these problems.

Do you own a medical billing services company and want to grow your business? Do you have the potential but lack the funds to take on new opportunities? Invoice factoring from a Cleveland factor like PRN Funding can help you grow. Learn more about factoring for medical billing services.

Owning a medical coding company can give you the opportunity to be a successful business owner. With the opportunity to bill hospitals, doctors’ offices and medical clinics, there potential to take on new clients is frequent and often, but slow paying customers can make it impossible. See how factoring for medical coding can give you the cash flow you need.

PRN Funding works specializes in medical receivables factoring for a variety of companies. Learn more about the process and benefits and see how your medical supplies or medical transcription company can benefit from accounts receivable financing. There is a possibility to even get your private care duty business funding.

Learn More About Factoring Services

Don’t Allow Slow-Paying Customers to Get in Your Way!

PRN Funding can help! Call us today @ 216-504-1000

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